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Latest Compliance - Reg. Z Topics

New TRID Regs Placing Lot Loans under Reg Z

12/20/2015

With the new TRID regulations from October 3, now placing lot loans under Regulation Z, in the event of refinancing a lot loan, does the right of rescission apply?

Borrower Consistently Past Due on Taxes (Escrow)

12/06/2015

We have a borrower who is consistently past due on the taxes for the collateral on our loan. In the past we have advanced the amounts due on the principal balance and re-amortized the payments. Now we are discussing setting up an escrow account on this loan. Are we prohibited from advancing the initial deposit for the escrow account on the loan?

Revised GFE Changed Circumstance: Rate Change

11/29/2015

We had a customer apply for a loan secured by their primary dwelling. The rate was locked at 3.75%. The revised GFE was issued stating the rate at 3.875%. Correct rate is 3.75%. Is this considered a changed circumstance?

Estimated Taxes, Insurance & Assessments on Loan Estimate

11/22/2015

I am doing a 6 month interest only loan to a customer to make home improvements. I am not escrowing for taxes or insurance for this loan. Do I still need to disclose the "Estimated Taxes, Insurance, and Assessments" on page 1 of the new Loan Estimate?

Tolerance Categories for New TRID Rules

11/15/2015

I have a question regarding tolerance categories once the TRID rules go into effect. Here is my potential scenario: Our customer chooses to purchase Owner's Title Insurance. We do not require​ that they do this as a condition of the loan. What if the company they choose is an affiliate of our company. Would this fall into the no limit or zero tolerance category?

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EHL Logo Use on the WWW

12/10/2023

Is the term “Equal Housing Lender” on our website sufficient or should we actually have the “Dog House” logo?

Negotiating Complicated Checks

12/03/2023

Can a check payable to "JANE DOE Life Estate Tenant u/t/w of John Doe, Deceased and Child 1, Child 2 & Grandchild 1, Remaindermen" be deposited into the life tenant's individual account or a multiple party account owned by all named parties?

Website Change Management

12/03/2023

We currently keep both electronic copies and paper copies of every change made on our website. This is time-consuming to maintain. How critical is it to keep hard copies of our work, and what questions should we be asking ourselves to potentially reduce or eliminate unnecessary paper trails?

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